While credit is an essential sales tool in today’s competitive environment for increased revenue and profit, it is important during such times that buyers and suppliers have a strong collaborative relationship as they are both each other’s key business partners to ensure their mutual business health. If a supplier is unable to access capital, it will fail. When suppliers fail, the companies that rely on them face a higher likelihood of failing as well.
Achieving excellence in managing debtor’s accounts and collection is critical in realising and optimising the profit and cash benefits of increased revenues. Good credit management will not only create value by improving cash flow, customer relationships would also be enhanced in the long run.
This two-day programme will give participants key strategies to reduce credit risks and bad debts while protecting the profits. Participants will learn the principles of managing credit and control to enhance debt collection.
- understand the financial effects of credit management and how it impacts on the total cash management of the company
- appreciate the key benefits in revenue management for the overall growth and performance of the company
- understand the need of a credit policy to strengthen the evaluation of credit risk
- identify and implement effective credit control to detect problem accounts early
- effectively strategise for collection
The course is suitable for Senior Accounts Clerks and Accounts Executives whose responsibilities include the preparation of monthly management accounts and yearly financial statements. The course is also suitable for Finance Managers that need a refresher course on the preparation of accounts.
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